First Community Bksh Up 6.52% To $31.03 After Earnings Beat

Wednesday, October 25, 2023 - First Community Bksh (FCBC) reported upside earnings and revenues today.

Analyst expectations for First Community Bksh earnings per share (EPS) were at $0.66, with the company surpassing those estimates with a reported EPS of $0.78, leading to a positive surprise of $0.12 per share (18%). First Community Bksh's earnings rose 5% year-over-year as the firm reported an EPS of $0.74 in its year-ago quarter. The positive annual growth shows the Financial Services company is performing well amid recent economic conditions.

Revenues were upbeat at $43 million. That is an increase of 9.36% in revenues from the year-ago report and is 1.29% higher than consensus estimates set at $42.4 million.

The stock is up 6.52% to $31.03 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Sell on the stock prior to the report.

Trading in the five days leading up to the report earned First Community Bksh a Bearish Sentiment Rank from InvestorsObserver.

First Community Bksh has performed a little below average during the past few months. Before the report, First Community Bksh received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm set a 52-week low on May 2, 2023 at $22.55 and set a 52-week high on November 18, 2022 at $39.39.

First Community Bankshares Inc is a financial holding company that provides commercial banking products and services. The company is engaged in providing demand deposit accounts, savings, and money market accounts, certificates of deposits; commercial, consumer, and real estate mortgage loans, and lines of credit; various credit card, debit card, and automated teller machine card services; corporate and personal trust services; investment management services and life, health, and property and casualty insurance products. The company's revenue is mainly derived from interest, fees, and commission.